CFOs across industries are competing for talent for their support staff, and data from the Projections Managing Partnership recently identified near-term geographic projections of the roles CFOs could seek to fill by 2023. .
Projections on four job categories—accountants and auditors; credit analysts; financial managers; and financial and investment analysts, financial risk specialists, finance specialists and everyone in between – reveal that despite a global shift in workflow and flexibility, the most populous and economically productive states continue to open the way by welcoming the financial support staff of tomorrow.
Although New York, Texas and California led the number of jobs offered for the roles analyzed, Florida was the only state to make the top five for each of the four positions examined.
Smaller states like Arizona, Georgia, North Carolina and Washington State are expected to have specific roles available in their state in the near future, suggesting an attempt by companies to find and serve a niche in that particular state.
New York: Hot Spot for Accountants and Auditors
New York leads the list with about 9,310 positions added over the next two years, with California and Texas lagging behind, planning to add 8,300 and 8,270 accountant and auditor positions, respectively. Not only is New York leading the way in adding these positions, but the state’s 7.7% growth rate is the highest projection of any U.S. state or territory, which not only means that they’re adding more jobs than anyone else, but they’re growing the industry at a faster rate. rhythm.
The fairly stagnant 3.8% rate of change for accountants and auditors in Illinois is the same as the rate of change in places like Wyoming and Guam. This may come from reports of large-scale Illinois industries and people leaving. According to the United States Census Bureau, the state was the third highest in the nation in terms of population decline in 2021, with more than 113,000 residents leaving the prairie state between 2020 and 2021. Boeing, Caterpillar and the $50 billion hedge fund Citadel all announced this year that they are moving their headquarters out of Illinois.
Texas: destination for credit analysts
While Texas tops the list of planned credit analyst positions with a projected addition of 390 over the next two years, North Carolina’s addition of 170 such positions puts it in second place, State planning to accommodate a total of 2,490 credit analyst jobs by 2023.
North Carolina’s accessibility to the northeast, its mild climate and its large financial center in Charlotte have resulted in significant population growth, according to the United States Census Bureau. It is the fourth largest state displaced during the pandemic, with just over 93,000 new residents added from April 2020 to July 2021.
New York and Illinois both hit the bottom of the list of growth projections for credit analysts and are expected to lose 200 credit analyst positions over the next two years.
The CFO positions range
Whether or not states see their populations change, the number of roles in planning, directing, or coordinating accounting, investing, banking, or insurance in the United States still largely occurs in traditional financial sectors, according to the data.
California, New York, Texas, Florida, and Illinois rank among the top locations for projected CFO job growth. The data suggests that metropolitan areas like Los Angeles, New York, Dallas, Miami, and Chicago will be where organizations will continue to hire the majority of their decision makers.
Small States Are Entering Other Financial Areas
While New York, Texas, and California again top the list below, respectively, Washington State is expected to add 820 positions for financial and investment analysts and financial risk specialists and ranks at the seventh in terms of growth. Washington state has seen stagnant population growth from 2020 to 2021 of just under 20,000 additional residents, according to the Census Bureau.
However, Washington State is also home to fast-growing or well-established technology companies such as Microsoft, Amazon, Tableau Software, Smartsheet, Expedia, and F5 Networks.